Moody's affirms Bladex

Moody's Investors Service said it affirmed Banco Latinomericano de Exportaciones SA's (Bladex) D- bank financial strength rating and Baa3 and Prime-3 long- and short-term deposit and debt ratings, with a stable outlook, following the bank's announcement of a three-year stock repurchase plan, a special dividend, and an increase in the quarterly dividend.

Moody's noted that Bladex' capital management plan is in line with the bank's resources and the need to generate competitive returns to ensure its access to long-term equity investors. Moody's also said that the plan was supported by the bank's current cash flow, liquidity and capital resources.

While the plan would reduce Bladex' tier one capital ratio, Moody's said that the ratio would remain consistent with Bladex' growth plans and present risk profile.

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